KwaZulu-Natal embarks on Foreign Direct Investment Drive

04 July 2019

19 June 2019

KwaZulu-Natal embarks on Foreign Direct Investment Drive

Durban, South Africa: Today, a KwaZulu-Natal delegation of trade and investment professionals is leaving Sydney, Australia having concluded a successful mission to the 2019 World Forum for Foreign Direct Investment, the aim was to position the province as an ideal investment destination, in this regard both Trade and Investment KwaZulu-Natal and Invest Durban took top honours, being named 2019 Top Investment Promotion Agency in Africa,Dube TradePort Special Economic Zone forms a key component of the delegation as one of the key destinations for Foreign Direct Investment within the Province. 

The 16th annual Forum hosts over 500 of the world’s top executives, consultants, international promotion agencies, economic development corporations, and government officials.

“To date, Dube TradePort Special Economic Zone has successfully managed to attract just over R3.2 billion in private investment into the precinct.” Said Dube TradePort Special Economic Zone CEO, Mr Hamish Erskine “The World Forum for Foreign Direct Investment is an opportunity to enhance our investment drive especially as we have set a target to attract an additional R18 billion over the next five years, which we will host within the 45ha second phase of our successful Dube TradeZone industrial development, within which we are developing an electronics and medical as well as pharmaceutical’s cluster.”

The World Forum for Foreign Direct Investment provides a unique opportunity for some of the worlds most influential people and institutions that drive of Foreign Direct Investment decisions to have a dialogue around the most critical issues facing the global economy. The conference which runs from the 17th -19th June, will see global leaders and experts engage on topics such as the key drivers behind corporate expansion decisions, workforce development issues, and incentives, and challenges companies face when establishing a presence in new countries, cities, and investment zones.

KwaZulu-Natal’s unique location with two seaports, Durban and Richards Bay and an international airport with dedicated airfreight facilities, as well as a rich road network connecting the destination to the rest of the Southern African Development Community, makes it ideal to house Foreign Direct Investors, who have an eye on growing their markets into the rest of the African continent.

“Richards Bay Industrial Development Zone has established itself one of South Africa’s strategic developments to drive the country’s industrialization agenda, attracting both domestic and Foreign Direct Investments. The investors we have attracted into our precinct have enhanced the industrial capabilities of the province and added to the beneficiation of the country’s natural resources through the development of state-of-the-art infrastructure and added new jobs.” Said Smangele Ngcobo Acting CEO Richards Bay Industrial Development Zone

As South Africa gears up to enter a new phase of economic growth, with a surge of development spurred by a strong investment drive over the next five years and beyond, KwaZulu-Natal has begun the necessary groundwork to become one of the leading destinations for foreign direct investment within South Africa.